Geode Capital Management LLC raised its stake in Ball Corporation (NYSE:BLL) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,637,759 shares of the industrial products company’s stock after buying an additional 140,259 shares during the period. Geode Capital Management LLC owned 0.94% of Ball Corporation worth $121,443,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Ball Corporation by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,021 shares of the industrial products company’s stock valued at $752,000 after buying an additional 70 shares during the last quarter. State Street Corp increased its stake in Ball Corporation by 8.0% in the fourth quarter. State Street Corp now owns 7,388,368 shares of the industrial products company’s stock worth $554,660,000 after buying an additional 547,365 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Ball Corporation by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 227,612 shares of the industrial products company’s stock worth $17,087,000 after buying an additional 7,850 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Ball Corporation by 76.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,429 shares of the industrial products company’s stock worth $483,000 after buying an additional 2,776 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Ball Corporation by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 1,385 shares of the industrial products company’s stock worth $104,000 after buying an additional 364 shares during the last quarter. 43.30% of the stock is owned by institutional investors.
Ball Corporation (NYSE:BLL) traded up 1.27% on Friday, reaching $42.20. 757,216 shares of the company traded hands. Ball Corporation has a 1-year low of $33.76 and a 1-year high of $42.30. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 31.40 and a beta of 0.95. The stock has a 50 day moving average of $52.97 and a 200-day moving average of $69.09.
Ball Corporation (NYSE:BLL) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. Ball Corporation had a return on equity of 16.46% and a net margin of 4.59%. Ball Corporation’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. On average, equities analysts anticipate that Ball Corporation will post $2.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 30th. This is an increase from Ball Corporation’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 0.96%. Ball Corporation’s payout ratio is currently 26.67%.
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A number of equities research analysts have recently weighed in on BLL shares. ValuEngine lowered shares of Ball Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Ball Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Ball Corporation in a research note on Thursday, March 2nd. They set a “neutral” rating and a $40.00 price objective on the stock. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and issued a $39.50 target price on shares of Ball Corporation in a research note on Wednesday, April 12th. Finally, TheStreet upgraded shares of Ball Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.23.
In related news, Chairman John A. Hayes sold 2,653 shares of the business’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $72.60, for a total transaction of $192,607.80. Following the completion of the transaction, the chairman now owns 203,561 shares in the company, valued at approximately $14,778,528.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R David Hoover sold 22,000 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $39.75, for a total value of $874,500.00. Following the transaction, the director now owns 205,260 shares of the company’s stock, valued at approximately $8,159,085. The disclosure for this sale can be found here. Insiders have sold a total of 72,952 shares of company stock worth $3,188,747 over the last 90 days. 2.70% of the stock is owned by company insiders.
Ball Corporation Company Profile
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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